46-Unit Apartment
New
For Sale
$8,500,000
301 NW 32nd Court 1-46, Pompano Beach, FL 33064
Multi-building apartment asset with studios, one- and two-bedroom units across a two-story building and villa-style residences.
Property Size35,346 SF
Price / SF$240.48
Days on Market6
Property Features for 301 NW 32nd Court 1-46
General Information
Standard status
Active
Size
35,346 SF
Property subtype
Multi Family
Units
Unit Mix
1 x studio, 23 x 1BR/1BA, 22 x 2BR/2BA
Multifamily Units
46
Additional Details
Cap Rate
6.14%
Building Details
Building Size
35,346 SF
Year Built
1975
Buildings
7
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Elior Levi · License #3574869
(954) 743-7594
Source:
Pamandtoni
Added: Aug 28
Changed: Sep 2
Last Checked: Sep 1 at 11:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This 46-unit apartment property comprises a 22-unit, two-story building and six adjacent fourplex buildings with villa-style layouts. The unit mix includes 1 studio, 23 one-bedroom/one-bath units, and 22 two-bedroom/two-bath units. The buildings contain a combined 35,346 square feet and were built in 1975.
Located in Pompano Beach, Florida, the property includes buildings at 301 NW 32 Ct and six additional NW 3 Ave addresses: 3111, 3109, 3107, 3105, 3007, and 3108. Eight units are vacant, while the in-place operation reflects a 6.14% cap rate. Leasing the vacant units is projected to support an approximately 8.08% cap rate.
Located in Pompano Beach, Florida, the property includes buildings at 301 NW 32 Ct and six additional NW 3 Ave addresses: 3111, 3109, 3107, 3105, 3007, and 3108. Eight units are vacant, while the in-place operation reflects a 6.14% cap rate. Leasing the vacant units is projected to support an approximately 8.08% cap rate.
Key Highlights
- 46‑unit apartment property totaling 35,346 square feet
- Unit mix includes 1 studio, 23 one‑bedroom/one‑bath units, and 22 two‑bedroom/two‑bath units
- 22‑unit two‑story apartment building plus six adjacent fourplex buildings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$542,968
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,859,360
$10.9M
Cap Rate 7%
$7,756,686
$7.8M
Cap Rate 9%
$6,032,978
$6.0M
Market Conditions
NOI Build-Up for 35,346 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.04M $29.40/SF
− Vacancy
−$52.0K −$1.47/SF
EGI
$987.2K $27.93/SF
− OpEx
−$444.2K −$12.57/SF
NOI
$543.0K $15.36/SF
Area
Pompano Beach, FL
Vacancy
5.00%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,859,360
Cap Rate 7%
$7,756,686
Cap Rate 9%
$6,032,978
Alternative Uses
Best Use
Apartment 5plus
$7.76M
$6.79M – $9.05M
NOI $542,968 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.78M
$12.06M – $16.08M
NOI $964,946 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
46
Residential units
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-building apartment asset with studios, one- and two-bedroom units across a two-story building and villa-style residences.
Where is this apartment building located?
The property is located at 301 NW 32nd Court 1-46 Pompano Beach, FL.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 46‑unit apartment property totaling 35,346 square feet; Unit mix includes 1 studio, 23 one‑bedroom/one‑bath units, and 22 two‑bedroom/two‑bath units; 22‑unit two‑story apartment building plus six adjacent fourplex buildings
